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our deficit in a balanced way that allows us to make these critical investments. now, it ultimately will be up to the voters, to you, which path we should take. are we going to double down on the top-down economic policies that helped to get us into this mess? or do we embrace a new economic patriot. >> that says america does best when the middle-class does best. i am alonging ford that debate. >> reporter: governor romney, two minutes. >> thank you, jim. it's an honor to be here with you. and it's an honor to be here with the president. i appreciate the welcome of the university of denver and the presidential commission on these debates. congratulations to you, mr. president, on your anniversary. i am sure this is the most remantic place you can imagine -- here with me. congratulations. this obviously is a very tender topic. i had the occasion over the past couple of years of meeting people across the country. i was in dayton ohio, and a woman grabbed my arm and said i have been out of work since may. you can help me? yesterday in a rally in denver, a woman came up with a baby in h
the official u.s. deficit this year. it is a doozy. you think your credit card bill is high? we're crunching those numbers. >>> a company will let you turn the outside of your home to a large billboard. people are scrambling to get in line. the guy behind this idea is here to explain. even when they are not, it's always about money. melissa: first, let's take a look at the day's market headlines. stocks closed out the week moving between positive and negative territory. u.s. consumer sentiment hit its highest level in five years but worries over bank profits and potential bailout for spain helped put a damper on investor optimism. the dow squeaked out two teeny, tiny points. advaed micro devices with the biggest loser on the s&p 500. the semiconductor maker cut its third quarter outlook, primarily blaming slowing global demand on weakening global economy. >>> business software company public debut isthe biggest ipo since facebook. that was back in may. >>> to our top story tonight i don't know about you but i envision peace and olive branches when i picture the european union. look at the pi
: ashley, president obama promised to cut the deficit in half. of course that has not happened yet but our budget deficit for the year is still pretty high. up next, the latest numbers from the treasury. and if the deficit story doesn't ruffle your feathers this one might. big bird's salary. the person inside big bird. let's just say he's probably in the 1%. ♪ . u see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday y see all the ways all of us at us bank are helping grow our economy. lending mo so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. liz: treasury department released the budget numbers today. ashle
pearson with breaking news on the deficit. hampton. all right. we're going get to hampton in a second. >> we'll wait on that breaking news. >> yes, exactly. >> in the meantime, less than an hour to ago, this trading day, is the dow going to go lower for the fifth session in a row? a five-day losing streak may not be a huge red flag for some people, but pension partners says u.s. markets are behaving in a way that suggests either a correction or something more severe may be on the way. >> in today's "closing bell" exchange, we have pension partners and our own rick santelli. michael, the signals that the markets are sending, boy, it's been going on -- hold on, folks. let's go to hampton pearson with breaking news on the deficit. >> michelle, from the treasury department and the omb, the final results on the 2012 deficit, and here are the highlights. the fy-2012 deficit was $1.89 trillion, $207 billion less than the 2011 deficit. the 2012 deficit came in lower than previously forecasted as the treasury department and omb. $121 billion less than forecasted at the mid session review. as a
in birmingham he reaffirmed his determination to stick to his plan of deficit-reduction. he says britain can no longer assume it will remain a major industrial nation. >> and as we showed determination and imagination, britain may not be in the future what it has been in the past. because the truth is best, we are in the global race today. that means an hour of reckoning for countries like ours, or swim, do or decline, to take office, to become the government at such a moment is a duty and an honor. and we will rise to the challenge. today, i want to set out a serious argument to this country about how. we do how about how we compete and thrive in this world. how can we make sure that in this century, like the ones before, britain is on the rise? -- rise? nothing matters more. >> our political correspondent, naomi, joining me. is it sink or swim? the country might feel parlous and depressed after listening to that. >> i think he does not want to have any false hopes for people. i think he is paving the way for an announcement that we will get later this year where he would tell the british p
and that that, we can do that on a basis which won't increase the deficit. that was their position as i said for 99% -- >> but still his position -- >> hold on, joe, and you cannot do that as a mathematical matter without raising the tax burden on the middle class, it's not possible and all this debate about my studies and your studies is not possible, as bill clinton said at the democratic convention it's arithmetic. >> can we taxle the deficit without affecting the middle class? >> if i were vice president biden i'd put that back on the table and push it because it's too late to change your position 30 or 40 days before the election in a campaign that's gone, you know, for a year and a half. it's too late especially on an issue which you've been talking about every single day for those 18 months. it's too late. i'd take the view you can't change your position on something like that 30 days before the election, you can't change your position on repealing every fapset of obama ca facet of obama care or every facet of dodd-frank. we have a debate tonight, so to say nevermind, that doesn't wor
competitiveness for the economy. another important element is the public sector deficit, and the stability of the government debt . another important structural reform is being put into the spanish constitution, the financial stability law. that means that the government is going to be more able to meet their objectives and to put a degree of control on the expenses and the deficit. the government can control the expenditures from the central government. another part of the government. you have unique tools in order to make that complied. now, the government as the proper tools to address these issues. in the process of addressing the fiscal situation, we have a totally out of control deficit in year 2009. deficit exceeding 11% of its gdp. now we and the royal of reducing the deficit. the very important issue is about the capacity of the government to get to the 6% public sector deficits. as the greek of skepticism in the markets, the capacity of the government. the government is confident that we can get to this figure. if they work to get their it will be very important positive message
for the economy. another important element is a private set her deficit. wow, another important reform has been to put into the constitution, a financial stability law, that means that the government is going to be more able to meet their objectives and to put a degree on the expand says and the deficit of the regional suspense, which is part of the issue because the expenditures from the central government, another part of the government in which you have tools in order to make them comply with your objectives. at the government has proper tools. and in the process of the fiscal situation as we see in this chart, we have a totally out-of-control deficits in the year 2009 with a deficit exceeding 11% of the gdp and now we are to reducing the step thursday of the very important issue and what the markets wonder if the capacity of the government to get to the 6.3%. there is a degree in the market and the capacity, but the government is confident that she can get this figure and i think it would be a very important message for the market. if it's able to comply with the objective of direction and
proven to represent the opposite of peace. the eu severs from an extensive democratic deficit with violations of human rights along increasing social inequality. that stigma from the norwegian peace council, tariq ali. >> amy, the norwegian peace council has criticized the peace prize in the past. in fact, alfred nobel specified the peace prize should only be given to those who are actively promoting the cause of peace. which the eu does not do, either in the middle east -- for instance, it has backed and supported everything the israelis have done as far as the occupation of palestine is concerned. it has tried to isolate the palestinian government in the past. it has carried on supporting nato -- it is part of it, and and the war in afghanistan. it is not popular even among many swedish and norwegian members of parliament. i was there many years ago when they give it to obama. about 10,000 people demonstrated against that because obama had just said he was good escalate the war in afghanistan and pakistan. so the peace committee itself now, the nobel prize committee, has bec
that they need to do something about these large deficits immediately to make sure they don't harm growth. >> greece's case is a special one. they definitely need to do something on the fiscal front. imf has pushed the notion that greece needs debt restructuring. they're talking about whether there should be a delay. the imf has put on on the table informally that there needs to be a debt restructuring. i think you're overreading what they're putting into the uk story. when they did their review, they said if the economy slows down, you might have to change policy. well, what else would you do? sit on your hands and wait? in general they have been pretty consistent in favor of the tight fiscal loose monetary policy strategy. >> do you expect, does rbc, expect another restructuring? >> greece will definitely have on to do restructuring. the question is do they get one as part of a deal or do they take one. >> worth pointing out george will be joining us later on set. meanwhile, the ecc president draghi has been vowing to back the eurozone. he's announced proposals be put ford to deal with
to the encouraging weekly jobs claim number but were tempered by a widening trade deficit and higher unemployment in greece. >>> and more worrisome news for the global economy. s&p 500 a downgrading spain's credit rating, it dropped two levels. s&p says the downgrade comes because the capacity for spain's political institutions to deal with the current economic sand finance am crisis is declining. >>> our report out today says tourist force the london olympic and paralympic games failed to give a boost. the number of visitors was lower between june and august compared to the previous year. it dropped about 7%. the tourists said the spending hovered around the same before at $9.7 billion. >>> a report says airlines are reduce the number of long tarmac waits that customers have to sit through. the report was released by the u.s. department of transportation. in august, airlines reported tarmac delays longer than three hours. they must be reported. luggage lost and discrimination complaints are as down -- are also down. >>> there are new clues in the case of a missing hayward girl, as we told you ea
deficit targets. we will not change our policies or our targets. >> spain rejects imf's suggestions that it needs more time to stabilize its economy. some analysts say the delay in asking for aid is worrying markets. member the pressure to ask for a bailout is making the country suffered. nobody wants that. not germany, nor spain. that alone could put us closer to a bailout. >> the spanish government says it will consider applying for aid once it has explored all options and conditions. >> despite the bad economic news in europe, germany's traders were in an optimistic mood. we have this report from the frankfurt stock exchange. >> germany is getting prepared for economic weakness. in other places of the world, signs of recovery are coming up. better than expected economic data from the united states pushed stock prices of words here in frankfurt. also bit unexpected were quarterly earnings reports, the ones from walmart for example. shares of siemens made an exception, though. they were among the losers on this thursday. siemens says its ceo announced job cuts and cost cuts. profit
also. actually doing quite well. our neighbor to the south, fiscal deficits. monetary policy. a better job creating jobs and there. as much as we can. >> implicit in all of this, we the united states and not doing as well as we should. let's turn inward. how worried are you and how much are you planning for the fiscal cliff? >> there has is the big deal. when the crisis happens, the debt tween crisis, we spend 50 to $100 million preparing. the complexity of that happening in global financial markets, real failure. the fiscal cliff is not quite that because it is more predictable, but we have a fiscal clef. going through to make sure we understand all of it. we will be prepared. j.p. morgan will survive the fiscal cliff. i think it's terrible policy to allow. the reason i think it's bad, there are potential outcomes. i would defy. therefore it is irresponsible policy to say, let's see. lets us see. let's try to avoid that. it won't happen on midnight dec. 31st. it will happen now. this is bad. the margin go higher. don't go, don't buy. wait and see. that is a recession. this people pull
not reach a deal cutting the deficit. jpmorgan is being sued at the new york attorney general over allegations that subsidiary bear stearns deceived investors into buying mortgage-backed securities. this is an hour. [inaudible conversations] >> well, good afternoon. i am richard haass and i want to welcome all of you to the council on foreign relations into today's ceo speaker series meeting. this is part of the council on foreign relations corporate programs, which is supposed to increase connections and links between the business community in the foreign policy community, which to some extent are one and the same. i want to thank -- rather welcome not necessarily those of you do, but those around the world participating in this meeting or modern technology. speaking of modern technology, if people take a second to turn off their cell phones and the like, that would be most welcome. this meeting is on the record. as we say, anything can and will i'm sure be against you. in this danish, probably some things you haven't said will be used against you. the phrase for someone it's no
blankfein, the man at helm of goldman sachs. a man on the deficit reduction committee and voted against simpson-bowles will tell us why he didn't like it and what he wants to hear in tonight's vp debate. oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your
a credible plan to reduce our budget deficit, that's delivering very low interest rates for us in the markets at the moment. so that is the proof that there's international confidence in our plan. >> gilt yields are slightly lower. we're waiting for spain of course to ask for a bailout. spanish yields are lower. and if they stay in those sort of levels, spain will ride their luck for as long as they can. back to you. >> i was with you on that, ross. your audio guy was sleeping there for a second. we were going to step in and help you, but that was -- it was the eads, that's very unsettling what's happening with the eads. very unsettling. i'm anxious about how that finally plays out. >> no delay. >> just flew right over ross. >> flew right over ross. we may eventually have really quick flights again. did you see this guy who is going to jump out of balloon? he'll break the sound barrier. but as you're falling, since there's no -- what keeps you at terminal velocity is the air. if there's no air, they think he'll he break the speed of sound. >> why is he doing this? >> because he can. >> yeah,
countries getting on top of our debt problems. we have a credible plan to reduce our budget deficit that's delivering very low interest rates for us in the market at the moment. so that is the proof that there's international problems. >> the bae/eads merger, largest shareholder opposes the deal saying it would be better left as a stand alone company. >>> and angela merkel's first visit to athens since the eurozone crisis as finance ministers meet today in luxemburg. >>> very good morning to you. a new week on "worldwide exchange." and too late. if you haven't got your application in, it is too late. bank of england government job should have been in half an hour ago. so if you didn't make it, you're not going. jim o'neill wasn't applying, scott mcdonald wasn't applying either. i didn't get mine in. so never mind. stick here. also coming up, we'll be heading to new delhi to hear how undoing regulatory requirements could boost investments. details from one of the author of the quarterly cfo survey. and also president chavez is fig celebrating a hard-fought victory. if you have any thought
with the goldman sachs ceo lloyd blankfein plus the co-chairs of president obama's deficit commissionity, simpson and bowles. they'll discuss the fiscal issues. that's at 12:30 eastern on fast money halftime report. so don't miss that. >> and still to come here, christine lagarde has harsh words about austerity. we'll head back out to cadd ere cadre oig in tokyo after the break. kadri in tokyo after the . >>> christine lagarde calls for developed nations to do more to get their budgets in order while at the same time urging europe to give greece more time. >>> and central banks take action on slowing global growth. interest rates both cut by 25 basis points as the economies try to copy with waning demand. >> plus the states have been raised for today's debate between joe biden and paul ryan and new polls show the race for the white house has tightened. >> kelly and i might be wearing a dapper of red today. european stocks -- >> we didn't even plan it. we're just on the same wave length. >> stocks have a dash of green. not much, just a little. a welcome break if you're long in the markets after th
to cut budget deficits. greece and spain to have more time because it would do more harm than good. france and italy and spain have been giving the same message. germany responding by saying backtracking in debt reduction goals. it would hurt confidence and so it goes. connell: never a shortage items. [talking over each other] ashley: a very conservative view. vice president joe biden taking on paul ryan in the vice-presidential debate this evening and joe biden will have work cut out for him. a new fox news poll shows 40% of americans have a favorable opinion of paul ryan compared to 44% for the vice president. with reaction to that let's bring in judith miller, fox news contributor and fellow at the man and an institute and former press secretary for vice president al gore. who has the most to lose tonight? >> joe biden has the most to lose because if he doesn'' improve on the president's performance, this ticket is in big trouble. dagen: is it avoiding gaffes this evening? i would rather see him a little loose with his lips than be a board. >> he is not going to be boring. neith
economics. debt was a four letter word, deficit, the tea party movement, taxes, government spending, the role of government, the reach of government. i think that the coups and clues lies somewhere between 2008 and 2010. and sure, chemistry is important to women, biology is important to women. but in 2012 the most important issue to them really subject to them is math. >> brown: kellyanne conway and solindan lake, thank you both very much. >> thank you very much >> brown: in her weekly blog post, gwen ifill looks at how the campaigns are pitching hard to undecided women voters. and if you missed any of last night's debate, you can watch the vice-presidential match-up in full on our web site. >> woodruff: later in the program, we'll have more on the presidential race from shields and brooks. also ahead, the peace prize goes to the european union; and the pollsters, the gamblers, and the academics predict the election results. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: secretary of state hillary clinton vowed today that u.s. diplomats will not retre
is mocking romney on the deficit on wall street. watch this. >> bernie madoff, criminals, and the evil genius who towered over them. one man has the guts to speak his name. >> redbird. >> big yellow a menace to our economy. romney knows it is not wall street you have to worry about, it is big bird. mitt romney, taking on our enemies no matter where they nest. lori: is this what the presidential debate should really be focused on? lou dobbs is here. lou: where should we start. melissa: i will sit back. go ahead. lou: the sesame workshop has decided they have had a belly full of being in this presidential campaign. they have asked that the campaigns cease and assist. they are a nonpartisan outfit. it really became onerous when not only the president was using big bird, but then romney to point out there have been eight mentions of big bird by president obama and five mentions of elmo and count along the mentions of libya. zero. the plant to fix the economy, zero. big bird overtaking. talk about a big bird and a small issue. it is as you say on becoming. it is disastrous for the president. he lo
-2 deficit by winning three game on the road. the giants have a chance to do it tonight. the reds still have not won a play-off game, a home play-off game in 17 years. nats hosting the cardinals in game three. second inning, cardinals up one. edwin jackson for a three run home run. cardinals win 8-0. st. louis leads that series 2-1. they can put the nats away today. all eight teams on the field. giants and reds play game five at 1:00 eastern time today. followed by the nats and cards at 4:00. yankees and close it out against the os and tigers and as all or nothing for those two teams in oakland tonight. >>> well in cycling, the legacy of lance armstrong took another substantial hit yesterday. the u.s. anti-doping agency released 1,000 pages of what it called overwhelming evidence against armstrong and his former cycling team regarding doping charges. 11 of armstrong's former teammates testified against him claiming armstrong not only participated himself in doping but demanded his teammates follow his lead or leave the team. ceo of the u.s. anti-doping agency said of armstrong's team, the u.
of reducing tax marginal tax rates and increasing revenues and the cost it might add to the deficit is criticized as being non-specific. how do they respond to that? >> governor romney has laid out a framework. any time you have a plan such as this, you don't want to put all the details out there because there are negotiations that need to take place. the framework has been looked up by six different independent organizations including those from harvard and princeton. to say this plan will work. so the details don't need to be out there right now. the framework is very clear about what mitt romney and paul ryan want to do to strengthen our middle-class. >> gregg: i might say that the tax policy center which is cited by the obama campaign it's going to cost five trillion has been said by the director of the to be completely untrue. let me move on. the president has added two new things to his campaign speeches. he tells his audiences he says romney wants to kill big bird but more credibly he points to the unemployment rate that drops below 8%. it shows the economy under his leadersh
. that is what will kill this thing. we need to get our act together controlling our fiscal deficit in the future. >> i assume you favor a change in corporate taxation? >> the current system does not work. if they say -- prove it. it's hard to prove that in real time. today that it's different this time? five or six bad examples is because of bad policy. ben bernanke, jr., will write a book down the road sign we could have made this better. one thing is taxation. we are training immigrants and sending them back from. some companies have to invest here. if your building a semiconductor plant, a data center, a research center, it does not have to be here. a lot of it can be made over there because taxes are lower. it makes their returns 30%-40% higher. that's economics. separate morality from economics. set up the economic system that is conduve to growth, conducive to jobs, conducive to g.d.p. and then we will have a conversation. i do not mind paying 36.9% in taxes or of my capital gains separate 20%. i want a society getting more economical. do not mess up the economic engine making this possibl
and nobody believes the unemployment numbers. the trade deficit widened so even if the employer numbers were good there are too many other factors that hampered growth. dave: the labor department says there is an accumulation of claims that a likely submitted over a period of several weeks but not processed until the return to the quarter. apparently the state in question, this is the state that supposedly underreported -- tallying for this week, we should see some sort of catch up. is this going to eventually balance out? are we going to see this playing with numbers until election day? >> it is easy to have conspiracy theories here. i am not about to do that. even going back to the payroll number, when you look at the payroll number, you saw it was a weak number internally mostly due to temporary workers. that was the reason for the drop in the unemployment rate. the labor situation in my mind despite the better than expected number today which is questionable and the payroll number, the labor situation is not much better at all. liz: investors are dying for somebody to tell what to do. wh
in the u.s., reducing oil dependency and balance much trade deficit. melissa: all you've done is talking points. you haven't answer ad single question. we're out of time. could you anticipates one of the questions. >> melissa, here is the facts. the facts are, more people are going back to work. the unemployment rate is 7.8%. this is looking very much like 1984 and ronald reagan. unemployment down, people back to work. melissa: thanks for coming on the show. we appreciate your time. >> my pleasure. melissa: so there is big divide in the jobs data today, as we're discussing household survey shows total employment surged 873,000, but payroll says only 114,000 people went back to work. even jack welch said it, hard to reconcile these numbers. he tweeted, unbelievable jobs numbers. these chicago guys will do anything. can't debate so they change the numbers. that is harsh criticism. here with me is economist peter morici. which also have gary burtless, senior fellow? [no audio. what do you think. what a difference between the two surveys. peter, start with you. >> the bls is not cooking the
for the president during the deficit conversations. and so congressman ryan will not be able to say i'm the budget guy. biden will be able to say i was once sitting across the table from speaker john boehner, having those discussions. >> maybe that bodes well for some kind of hechft and substan. >> absolutely. >> and foreign policy, right? >> yes. biden will relish saving the president's butt. >> they are a little nervous. >> you think? >> joe biden -- little nervousness there. >> shirtless joe biden on the podium. >> my eyes are burned, i believe. >> if heas a good night he will walk off and tell the president, yeah, you owe me for that one. >> sparkling. >> of course. >> you should drink every time they mention scranton. you will be drinking. >> what about middle class? i think you would not even make it through the debate if you drink every time they say middle class. >> you want to be sober, they won't say poor. you will not hear poverty. >> how about every time they mention their parents? >> you're drinking. no question. >> middle class and parents. two big ones. >> live look at tonight's deb
obamacare and didn't like the deficit and the debt. has the tea party diminished, gone quiet underground or disappeared? >> what we've been doing is working from being enraged in 2009 when the tea party started to being actively engaged and taken, basically political novices, most the people in the tea parties and members around the countriment now around 41 million that support the tea party principles are people that work, take care of their kids and go to the football games like we saw with the congressman in idaho, and not people who spent a great deal of time in politics and haven't had time in the past and that's changed now and turned those political know novices into fully engaged and fully functioning political activists in the field. >> mike: it's pretty typical in any spontaneous movement, which the tea party was, there becomes a paint they become to assimilate into the institutions that they first railed against and seek to change and become part of the change. is that part of what we're seeing in the tea party, they're getting in the county committees and becoming members of
control. president obama hasn't had a budget in four years. we have seen $4 trillion deficits under his lack of leadership with our debt reaching $16 trillion. and as you know, if we stay on this path, by the end of his second term, should he be re-elected, it would be $20 trillion. that's unacceptable. >> is there a way to say that within the framework of what simpson/bowles are now providing, this time with the involvement of a lot of the nation's ceos? >> well, governor romney and paul ryan, like i said, have laid out a plan, not just to bring spending under control, but to reform our tax code, get people working again. because with more people in the work force, we'll be able to generate more income and that will be more money coming in. as you know, right now with 23 million americans struggling for work, many of those underemployed, they can't get good jobs. the amount of income we need just isn't coming in. >> yeah. but what i hear you saying is that it's going to be on your terms from your plan. it's not going to be in any way trying to embrace a revamped simpson/bowles. we know
tax proposals. the budget deficit went out and the american economy went up. the key thing is, let's forget about the government. they are a mess. what does it do for the american people and the economy? ryan was right on kennedy. he was right on reagan. stuart: you have taken part in republican high-level presidential debates. back in, what was it, 96 and 2000. you were in those debates. how do you judge biden's performance? >> the base of the party would love it did the most independent voters, the more and more they see, they will be put off by a snide, sneering sarcastic remarks. they have a lousy record and notes positive proposals for the future. ryan did. stuart: paul ryan, your judgment their? >> he did not get frustrated when the old guy tried to interrupt him. i think he held his own and did well. he did not let himself get flustered by biden. stuart: biden schooled ryan, i have a lot of comments about that. no? >> no. ryan summed it up at the end. we have positive tax proposals to get this economy going. he did so in a respectful way. i think the fact that he kept his co
. inflation is under control. the trade deficit's falling. they're diversifying away from europe. david: okay. that is, alec, i have to push you along, talk about grain of salt, i always take russia with a big grain of salt. frankly corruption problems, government getting involved in business always turn me off to russia you say they do well in the fourth quarter finally? >> they have as well, going back 20 years, russia averaged 3 1/2% monthly gain in the october, november, december time frame. that is versus 1.9% average gain for the broader emerging market space. on a seasonal basis russia has been very strong. although again people shouldn't just look at seasonals when making these decisions. david: alec young, great advice. from s&p captial iq. good to see you again. appreciate it. >> great. liz: always good to have alec. so engaged. he knows what he is talking about. one of these women is being named the sexiest woman alive. we'll tell you who when we go "off the desk.". oh where am i? david: you're there. you're there. plus one company bucking the trend, bringing manufacturing back to
puts obama from a narrow lead to a narrow deficit. effectively, though, this race is deadlocked. when we get to the swing states we will see that. >>gregg: people call this a bounce for romney. >> but a bounce does not last in >>pat: this could be the most significant debate in terms of impact other than reagan's debate against carter in affecting the race. debates usually do not move numbers. romney is getting real movement out of the debate. what it does and what has happened, romney's favorable rating has skyrocketed. we saw that among uncommitted voters in the cbs poll, after the debate, and we talked about this last week, 30 percent of the people say he cared about them, it doubled to 53 percent. he did what we suggested. by the way that is the important thing, changing the structure of the race. that now ahead it a real close race, not just in numbers but in context. >>gregg: in all of the attack ads over the last six months, $100 million has been spent by the obama campaign demonizing mitt romney and i think the public expectation was expecting this crazed guy who kills people.
'm going to reduce deductions and make sure it's deficit neutral, but i'm not raising taxes on the middle class. and depending on how you look at that, it's hard to make that math add. >> said one other thing, people that are now on entitlements will not be affected at all. >> right. so if all of that -- whether it's the tax policy, i know we've talked about there's a view that it's biased, but everybody who has looked at these numbers i have not found somebody who said the math adds. >> baked into those -- >> it doesn't say the math adds, no, only at 100,000. if you consider -- you're making over $100,000 your taxes are going up. you consider those people middle class or not? >> taxes are going to go up on certain people when the deductions go out. >> but you can't say at the same time that not raising taxes on the middle class -- >> stop. he said something else, which is equally important. if we get rid of some of these stupid regulations that are impairing jobs. >> right. >> let me give you one -- >> that's an argument i accept to some degree. >> david farr, the ceo of emerson electric
, the commerce department announced the u.s. trade deficit continues to grow. it was up 4.1% in august to 44.2 billion. both impours thes and exports declined with experts dropping off more than the imports. >>> 8:39. ever found something, returned it and then demanded $200,000? that's happening now in san francisco. the strange story of a sailor and an america's cup boat. >>> stocks are up after another set of better-than-expected job numbers out this morning. the labor says application for unemployment aid fell by 0,000, that's the lowest level since february of 2008. this comes three days after decline. the dow is up 27. the nasdaq is up 8. s&p is up 5. >>> workday makes their public debut tomorrow. and it marks the return of dave dufffield, the ceo. he started people-soft but in 2005 he was forced to sell in oracle in an unusually hostile takeover. like people-soft, workday officers software but workday cloud based. >>> ross mirkarimi may be back as folks's -- san francisco's sheriff but it seems some people are still gunning for his job. pam cook has more. >> the fight for ross mirkarim
, look, here's our deficit, here's our goal, here's the period of time that we have in order to fix it. and here are the measures that have to be on the table, the ones we can agree on, those we disagree on, but we have to come out with a way to so that the bleeding. that means putting everything on the table. now, i oppose -- the fact is that there can be an agreement in my view that we would all have to make some sacrifices. but for me to say i would support this, i wouldn't support that, that's not the way you negotiate. >> but you're saying you won't put the mortgage tax deduction on the table. >> i wouldn't agree to it. but the fact is that there can be an agreement. >> didn't the debt ceiling negotiation show that there simply cannot be a coming to terms between republicans and democrats? each party has their own sacred house that they refuse to budge. >> the president has agreed and boehner had agreed to a certain amount of revenue increases. boehner went to to the white house and the president napded that there be another $500 billion worth of tax increases. the whole they thin
depending on which way the electorate goes, you're going to see the deficit reduced either by tax increases or public spending cuts or a bit of both. and i do think the intrenched positions you've had the last year and a half will in the send cause someone to blink, either the administration or congress because ultimately neither will want to push the u.s. into an unnecessary recession next year. the answer is, yes, i expect some compromise. may seem foolish given the behavior of washington in the last few quarters. but having said that, i do think you're going to see some compromise. and ultimately, although it has hurt the market, it won't be too much of a negative going into next year. >> some may argue the more important elections in the next few weeks are the spanish regional elections on the 21st, which may trigger or allow spain to then ask for a bailout. do you think that's the event to watch as opposed to -- earnings season is great, it's not going to be a headwind in your view. but do we really need spain to request a bailout in order for us -- the equity markets to move higher he
to hit our deficit targets. well, time is money. they have to borrow every single day. if they can't pay the bills, the money has to come from somewhere. so if it is going to be two years more before they balance the budget, somebody has to fill the hole. it doesn't mean the germans or the rest of europe will write the check. what a lot of individuals believe will happen is there will be a back door bailout via the ecb. remember, greece still owes the ecb 25 billion euros roughly over the next three years that really like the ecb to delay receiving payment. that's not going to happen. at least it is highly unlikely. what's likely to happen, carl, is greece to going to go to the short-term markets. they're going to issue t bills or short-term notes and their banks will buy them and bring them to the greek central bank and the greek central bank will bring them to the ecb and they will be paid back with the very money they're giving back to the greeks. it will be a big circle covering 25 billion euro hole over the next three years. did germany write that check? no. they're going to bear a
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